The OTW is a nonprofit corporation, subject to laws and regulations dictating its fiduciary responsibilities to conduct activities in a manner that upholds the public trust. The OTW will be scrutinized not only by its members and fans outside the organization, but also by the IRS and the State of Delaware, our incorporation state.
There are a number of additional safeguards in place. Misuse of OTW funds constitutes fraud and could be subject to prosecution. This operates as a solid deterrent. Distribution of the OTW’s funds will follow generally accepted accounting principles with regard to oversight and authorization of expenditures. Finally, the OTW is required to file Form 990 with the IRS each year to report the organization’s financial activities.
The OTW produces an annual report, which includes a summary of OTW’s activities over the previous year, as well as the organization’s financial statements. This is made available each year on the OTW Web site. The Form 990 is a public document; however, it will not be available on the OTW Web site, as it contains personal information about individuals that should not be made available via the Internet. Individuals can obtain a paper copy of the annual report and the Form 990 for the cost of duplication and postage by contacting the Treasurer. Please put “Annual Report/990” in the subject line and provide a mailing address.